Bank Account Closing Letter: To close the account in a bank it is necessary to write the official letter to the bank manager. The reason for closing the bank account should be mentioned in the letter very clearly. Also, all the details related to your bank account such as Account number, Branch code, Full name, etc., should be mentioned in the application letter.
If you are searching for the application for shutting financial balance letter OR are you looking for the best examples of ledger close application then you have gone to the opportune spot. To close a financial balance there is no hard cycle. It is a simple cycle.
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Bank Account Closing Letter Format and Samples
You need to compose an application to the bank office administrator to close your record and you need to connect your checkbook, passbook and ATM card alongside this application. You can likewise move the financial balance to another branch without shutting it. For the most part, the bank will take around 5 to 10 days to close it.
If any application is composed without help from anyone else, at that point it is consistently a decent practice however because of the absence of time, It isn’t feasible for us to compose an expert application. In this way, just to save your time we have made a few examples of ledger shutting letters for you which will make your work simpler.
Probably the most widely recognized reasons that account holders generally close their ledgers, for example, individual reasons, moving to different nations, impolite bank representatives, untrustworthy financial frameworks, a high premium on credits or internet banking issues.
In this article, we are going to discuss how to write the bank account closing letter in a proper format. People who do not know how to write a closing letter, need not worry about it. Read the complete article here and get to know how to write such letters.
Bank Account Closing Letter Format
The format of the bank account closing letter should include the below-given details:
- Addressing the Branch manager
- Name and address of the bank
- Subject line
- Salutation (Sir/Madam)
- Body of the letter
- Thank you
- Closing with yours Sincerely, truly, etc.
- Name and Signature
The Branch Manager
[Name of the bank]
City, State, Pincode
[Body of the letter]
Paragraph 1 —————————————————————————————————
Paragraph 2 —————————————————————————————————
Paragraph 3 —————————————————————————————————
Samples of Bank Account Closing Account
The Branch Manager
State Bank of India
Date: 19Jan, 2021
Subject – Application for Closing the Bank Account
I hold Account No. 2039029302 with your Branch and presently I am not able to maintain this account due to some personal issues. I request you to please close my saving account and do not proceed with any transactions. I will be returning my passbook, cheque-book, cards along with my application.
Kindly close my bank account and transfer the balance amount in the below-mentioned account details. It would be highly appreciable if you do the needful to initiate the process as soon as possible.
Bank Account Number – 209485945
IFSC Code – KKBK0000245
How to Write a Bank Account Closing letter?
State Bank of India,
Sub: Closure of Savings Bank Account No.
I have opened a savings bank account here 10 years ago. My account number is [_________]. Since I am shifting to another city and would not be able to maintain my account, therefore I would like to close my bank account.
Kindly stop the transactions with this account and transfer the balance to another bank account, for which details are provided below.
Account number: [______]
IFSC Code: [______]
Important Points to Remember
Check your bank balance: This is the most important venture prior to shutting your financial balance. Do you have a critical equilibrium in your record?
Transfer or withdraw the amount: You can think about moving the cash to another record or pulling out the cash. Moving electronically is the most issue-free methodology and takes not exactly a day ordinarily. Nonetheless, in certain conditions, you may consider pulling out it physically. This is a more conventional method of doing.
Close the account: After moving all your cash, you would now be able to compose an application letter to close your record. Remember to request a composed record from your bank.
Destroy your cards and Cheques: It is smarter to demolish your charge cards and checks at this stage. This will additionally help your security ensured. Frequently banks request to restore your charge cards and checks alongside your application letter. You can likewise adhere to the directions referenced in your client mindfulness booklet.
FAQ’s on Bank Account Closing Letter
Whom should we write the bank account closing letter?
The bank account closing letter or application should be addressed to the bank manager.
How much time does it take to close the bank account?
It takes around three working dates to close a bank account after the application is submitted to the bank manager.
How to write a letter to close a bank account?
Write the letter to the bank manager, with the address and branch name of the bank. Start the letter with a salutation (Sir/Madam) and mention the reason for closing the bank account. Request to transfer the balance to the bank account. Mention your name, account number, signature at the end of the letter.
What documents are required to close a bank account?
Bank passbook and a photo ID proof.